Online:
Visits:
Stories:
Profile image
By silveristhenew (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Reader Asks About “Fedcoin”: Should the Fed Issue Its Own Bitcoin?

Saturday, February 13, 2016 16:25
% of readers think this story is Fact. Add your two cents.

(Before It's News)

Be prepared for the next great transfer of wealth. Buy physical silver and storable food.

mishtalk.com / Mike “Mish” Shedlock / February 13, 2016 12:37:55

Are central banks planning to issue their own digital currencies? If so, is there anything to fear? Those are the questions at hand today as reader Ken asked “Could you post your opinion of Fedcoin?”

What is Fedcoin?

Fedcoin is a digital currency proposal that would use the same blockchain technology as Bitcoin. Every penny could be traced to someone. Unlike Bitcoin, Fedcoin would not have a limited supply.

A Newsweek opinion column by David Andolfatto addressed this question Should the Fed Issue Its Own Bitcoin?

Fed Investigating Fedcoin

David Andolfatto is Vice President of the Federal Reserve Bank of St Louis. That tells you the Fed is seriously investigating Fedcoin.

Andolfatto listed these positives of “Bitcoin”.

  • First, it’s monetary policy reduces the “hot potato” motive of economizing on money balances—that is, it offers the prospect of being a decent long-run store of value.

READ MORE

The post Reader Asks About “Fedcoin”: Should the Fed Issue Its Own Bitcoin? appeared first on Silver For The People.

Thanks to BrotherJohnF



Source: http://silveristhenew.com/2016/02/13/reader-asks-about-fedcoin-should-the-fed-issue-its-own-bitcoin/

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.